It was last summer that Ehandel.se reported on a challenging year for the e-commerce retailer. At that time, operating losses had doubled to just over 10 million Swedish kronor as a direct result of aggressive marketing campaigns and negative exchange rate differences.
But now the tide has turned. The recently approved annual report for 2025 shows that net sales increased by 24 percent to SEK 130.9 million, compared to SEK 105.6 million the previous year.
Even more impressive is the earnings development. Operating profit made a complete turnaround and landed at plus SEK 10.8 million. This corresponds to a total improvement in earnings of over SEK 21 million compared to the previous year's loss.
Profit after tax for the year landed at SEK 12.5 million.
New agreement had an effect
The annual report shows that the broad marketing initiative to build a customer database and strengthen the brand has now had a clear impact on sales.
In addition, the currency, which previously acted as a headwind, has now turned in the company's favor. Transactions in euros generated positive exchange rate differences during the year, which significantly strengthened the bottom line.
Another crucial piece of the turnaround is a new agreement with the Belgian parent company Smartphoto Group NV. In early 2025, the parties entered into a new agreement in line with the arm's length principle. This means that the Nordic company now receives compensation for the sales and marketing services performed in the local market.
The company's financial health has also been significantly strengthened. Equity ratio soared during the year from a pressured 1.9 percent to a stable 24.6 percent.
Changes in the board of directors
In connection with the positive development, certain changes have also taken place behind the scenes. Geert Vagenende has joined as a new ordinary board member, replacing Jonas Persyn. However, the board is still chaired by Stefaan De Corte.